Family Firm Investment and Innovation
A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Business and Entrepreneurship".
Deadline for manuscript submissions: 31 December 2025 | Viewed by 41
Special Issue Editor
Special Issue Information
Dear Colleagues,
Family firms are vital contributors to economic development, yet their approach to investment and innovation remains complex and multifaceted. While traditionally viewed as risk-averse and conservative in R&D investments, recent research highlights their ability to achieve competitive innovation outcomes through alternative pathways, such as leveraging patient capital, strong social networks, and deep industry-specific knowledge.
However, as global business landscapes evolve rapidly, family firms are facing unprecedented challenges and opportunities in innovation, digital transformation, sustainability, and open collaboration. The intersection of family ownership, governance structures, and emerging technologies introduces critical research questions that remain underexplored. This Special Issue invites theoretical and empirical contributions that examine how family firms invest in innovation, adapt to technological change, and engage with external partners to drive sustainable and competitive growth.
We welcome high-quality research articles, systematic literature reviews, and case studies that address the following key research themes and gaps:
Key Topics of Interest
Digital Transformation and Technology Adoption in Family Firms
- How do family firms manage the transition to digital business models while preserving their legacy and core values?
- What are the drivers and barriers to AI, big data, Industry 4.0, blockchain, and IoT adoption in family firms?
- How does family governance influence digital investment decisions and the pace of technological change?
- What strategies do family firms use to retrain employees, attract digital talent, and integrate new generations into leadership roles focused on digital innovation?
- How can digital transformation help family firms to expand into global markets via e-commerce, improve operational efficiency, and enhance customer experience?
Family Ownership and Sustainable or Eco-Innovation
- Does a long-term orientation encourage or hinder sustainability investments in family firms?
- How do socioemotional wealth concerns influence family firms’ engagement with eco-innovation and environmental sustainability?
- Are family firms more likely to develop sustainable business models, invest in green technologies, or implement circular economy practices compared to non-family firms?
- How do generational shifts within family firms affect attitudes toward ESG (Environmental, Social, and Governance) commitments and sustainability-driven innovation?
- What are the trade-offs between financial performance, family legacy preservation, and sustainability goals in innovation strategies?
Investment and Innovation Efficiency in Family Firms
- Are family firms truly more efficient innovators, achieving more with fewer resources?
- How do capital constraints and financial conservatism shape family firms’ innovation investment strategies?
- How does the interplay between ownership, control, and external financing affect family firms’ willingness to pursue radical innovation?
- What governance mechanisms help family firms overcome risk aversion in innovation investments?
The Role of Governance and Generational Influence in Family Firm Innovation
- How does the presence of founders vs. successor generations shape innovation strategies?
- Does professionalization (e.g., non-family CEOs, independent directors) enhance or limit innovation in family firms?
- How do family firms create ambidextrous innovation strategies, balancing exploitation (incremental innovation) and exploration (radical innovation)?
The Intersection of Human Capital and Innovation in Family Firms
- What role do next-generation leaders play in driving innovation and technology adoption?
- How do family firms leverage social and human capital for knowledge sharing and innovation diffusion?
- What are the challenges and opportunities in hiring external R&D talent or integrating diverse perspectives within family firms?
Dr. Norma Juma
Guest Editor
Manuscript Submission Information
Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.
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Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.
Keywords
- family firm innovation
- open innovation
- digital transformation
- technology adoption
- eco-innovation
- sustainable investment
- family governance
- human capital
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